A state-appointed team made it clear Tuesday in a 4 p.m. press conference that the city of Detroit is broke. Mlive file photo

DETROIT, MI - The results of a report about Detroit's finances are in from a team appointed by Michigan Gov. Rick Snyder and the data shows the Motor City is in plenty of fiscal trouble.

But Detroit City Council member Gary Brown posted on Twitter Tuesday afternoon that reports of deficits, a lack of revenue and massive debt is "nothing new."

Detroit radio station WWJ (950 AM) reported some troubling findings found in the report: a $100 million shortfall by June, deficits of "hundreds of millions of dollars" each year since 2004 and $14 billion in unfunded pensions and other liabilities.

WWJ also mentioned it its report that the review team found that the city's charter is "too restrictive to deal with crisis in a timely enough manner."

It was unclear Tuesday night if Snyder had plans to appoint an emergency financial manner for Detroit and who potential candidates could be.

Follow MLive Detroit in the coming hours and days for the latest updates.

Joe Harris, Detroit's former CFO and auditor general, told me Tuesday he met with State Treasurer Andy Dillion "three or four weeks ago" and is under the impression Dillon and Snyder have someone in mind to take the emergency financial manager job.

Harris, however, claims he hasn't been offer the job by the state.

But this Detroit native - Benton Harbor's former emergency financial manager - didn't hesitate to mention that he would take the job "in a heartbeat" - if offered.

"Nothing shocks me anymore," said Harris, when asked if he would be shocked if Detroit didn't get an emergency financial manager. "I don't know whether I can find the right word ... I'd just say I expect an EFM to be appointed.

"But to say I'd be surprised if Detroit doesn't get one, that may be a stretch."

Patrick McCauley, a longtime Metro Detroit municipal lawyer, told WWJ that the appointment of an emergency financial manger for Detroit could still lead to more challenges for the city in the future

"The thing is that is most troublesome I think to me," McCauley said,
"is that if an emergency manager eventually determines that a bankruptcy
is the only way the city can go to get out of this current quagmire ...
if that's the case then I think the city is facing all kinds of
new challenges in terms of its credit going forward."

Below is a look some reaction on Twitter about the city's troubling financial situation after news broke at 4 p.m. about the state-appointed team's report and results.

Let us know what you think about Detroit, its finances and the possibility of an state-appointed emergency financial manager in our comments section.